Compensation on non agriculture land
This query is : Open
25 May 2017
My client has received compensation on non agriculture land on compulsory acquirement. And Tds has been deducted on compensation amount u/s 194LA. Is the compensation income exempt?? And if it is exempt than where do i show this amount in ITR and how do i claim refund?? Please very urgent
CA Rashmi Gandhi
(Expert)
25 May 2017
Compensation received for compulsory acquisition of non agriculture land is taxable under head Capital Gain..
Calculate Capital Gain & show it in ITR & claim TDS on it
27 May 2017
But I think as per RFCTLARR ACT 2014 compensation on non agriculture land is also exempt
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